AXIS Bank announced launch of smart terminal which can be used both to deposit and withdrawal of money like ATM. This smart terminal is self service like ATM which deposit as well as withdraw cash for the customers.
Customers can use this smart terminal without debit or credit card and the money will be deposited instantly as it accepts the money. There is no cap in depositing money in an account as far as the customer shared PAN information with the bank.
The concept of depositing money as well as withdrawing from the same machine will be very useful for the customers as they needn’t to visit branch and stand in queue. This concept is very useful for Banks too as they needn’t refill the ATM machine so often because cash deposited will be used for cash withdrawal. Moreover there will be less rush at branches.
Speaking on the occasion, Rajiv Anand, Group Executive & Head- Retail Banking, Axis Bank, said, "Axis Bank has been a pioneer in launching customer-friendly technology initiatives in the banking space. The self-service terminal is another innovative product by the bank, which will help customers carry out all financial and non-financial transactions in a convenient and hassle-free manner."